IMO Iron Ore and oil are very different because:
Oil is set for a recovery in a few years but iron ore will take longer. More producers need to shut down as BHP/RIO increase production.
- The oversupply of oil is smaller and a short life asset (tight oil).
- The Iron Ore supply grew much more dramatically in response to a chinese construction bubble.
$130 seems a big call but so does $30...
Chart has short term potential, page-467
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